Indian Markets react positively to RBI credit policy(Second Lead)

April 29th, 2008 - 4:14 pm ICT by admin  

A file-photo of Sensex

Mumbai, April 29 (IANS) The Indian equities market responded positively to the credit policy announced by the central bank Tuesday. Metals, IT, realty, banking, oil and gas and capital goods scrips moved higher with positive movements in all other sectors.

At 1.25 p.m., the 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, was up 365.44 points or 2.15 percent to 17,381.40.

The broader based S&P CNX Nifty of the National Stock Exchange was up 99.75 points or 1.96 percent at 5,189.40 Tuesday.

The market breadth was strong on BSE with 1,527 shares advancing as compared to 990 that declined; 72 were unchanged.

In its credit policy, the Reserve Bank of India (RBI) increased the cash reserve ratio of banks to 8.25 percent, but kept other key rates the same.

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